China America Holdings, Inc. (CAAH.OB) Announces Positive Financial Results For 2008
China America Holdings, Inc. (CAAH.OB) reported a major upswing in revenue as it announced 2008 financial results. CAH is a holding company that holds 56% of its subsidiary, Shanghai Aohong Chemical Co., Ltd., and the increase was primarily due to the first full year of operating results from this subsidiary. Shanghai Aohong is a distributor of assorted liquid coolants, used primarily as refrigerants in air conditioning systems for automobiles, as well as residential and commercial air conditioning systems. Shanghai Aohong also manufactures steel non-refillable cylinders. Revenues for 2008 increased to $34.97 million, compared to $16.20 million in 2007. In 2007,…